HP plans to split into two: media

Source: Xinhua | October 6, 2014, Monday |

Online Edition

US IT giant Hewlett-Packard (HP) is poised to split into two entities by separating its computer and printer business from corporate hardware and services operation, the Wall Street Journal reported Sunday.

According to the Journal, an official announcement of the split could come as soon as Monday. However, a spokeswoman for HP declined to comment on the report.

The move follows a trend of technology firms and other corporations splitting their businesses into separate companies as they believed that tightly focused firms perform better.

HP's computer and printer business accounts for about half of its revenue and profit, according to last quarter's financial results. It is not clear how many of HP's more than 300,000 staff work in each of the planned businesses.

The Journal said that under the planned split, current HP chief executive Meg Whitman would be chairman of the computer and printer business and chief-executive of the separate enterprise company.

HP is undergoing a massive reorganization to cope with the move away from traditional personal computers to mobile devices.

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HP plans to split into two: media

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